South American Pattern Shifts Feb 5-7th: ARC’s confidence is rising with respect to the long-awaited pattern change in South America. A shift beginning in early February has been forecast for weeks. Operational model guidance includes improved rainfall in Central Brazil – and drier weather in Argentina – in the 6-15 day period. The EU model’s…
US and world grain markets were subdued in the new week. A flood of USDA data lies in the offing. Otherwise, the Russian market has turned rather opaque following last week’s stocks report and the associated surge in interior prices. Upside risk in world values as the Russian Gov’t tries to control interior prices. Egypt’s…
Corn futures ended fractionally lower in tandem with crude and macro financial markets. There’s very little corn specific news available. Prevailing themes still include firm basis in Argentina and Ukraine, with Gulf corn entering its 8th week as the world’s low cost feedgrain. ARC is hopeful that US export sales will be updated Thursday. Any…
It was a dull start to the week, with CBOT soybeans marking an inside day of trade and closing down 1-2 cents. Funds were active early sellers amid the sharp fall in energy and equity prices, but short covering by the same sellers occurred into the close. March soybeans finished near Monday’s high – above the…
Hog futures were mostly lower to start the week amid technical liquidation pressure. April hogs slipped to a new low for the month but were slightly higher at the close. Summer CME hog futures slipped below $80. CME’s lean hog index was unchanged for Monday at $58.50, while the weekend slaughter data indicates $.29 lower…
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